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Seychelles located in the Indian Ocean is an ideal jurisdiction for companies to locate their regional hub or high net worth individuals to park their assets. The country has good political stability with a democratically elected Government. Equipped with modern telecommunication system and computerization of public and private sector and business friendly legislation the country is compatible for most modern businesses. Seychelles offers a modern and attractive business and financial center for international companies and high net worth individuals. Internationally Seychelles IBCs are deemed as prestigious business structures. Seychelles remains competitive even in the face of increased OECD. Seychelles IBCs are governed and regulated by International Companies Act 1994. IBC’s may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose. Seychelles IBC is a tax-free corporation designed for engagement into all forms of international business, with no reporting and minimum record-keeping requirements, and comprehensive confidentiality features.
Features of Seychelles IBC
- There is no minimum capital requirement
- Shares can be issued with or without par value in a variety of forms and classifications and may include voting or non-voting, Preferential or Common etc
- Shares may be issued for money or for other valuable consideration
- Shares are issued in Registered form only, Bearer shares are no longer permitted
- Minimum one shareholder and one director is required
- Shareholders, directors and officers need not be resident in the Seychelles and can be of any nationality
- Directors and/or officers can be either corporate entities or natural persons
- Appointment of company secretary is optional and the secretary may be a natural person or body corporate, be of any nationality and need not be resident in Seychelles.
- Seychelles IBCs do not need to hold Annual General Meetings for its shareholders and if any Shareholders and directors meetings are held it can be held anywhere, or even by telephone and may be attended by proxy
- Nominee shareholders and directors are allowed
- The Registers of directors shall be kept in any place as the directors determine and the company shall inform the Registrar of the place at which they are kept.
- Must maintain a registered office in Seychelles and must appoint a registered agent who is a resident of Seychelles.
Merits of Seychelles IBC
- Seychelles IBC is not liable to pay any local taxes and all exemptions for a Seychelles IBC shall remain in force for a period of twenty years from the date of incorporation of the IBC
- Seychelles IBC is exempt from any stamp duties on all transactions relating to its business, any transfers of property to or by the company, and on any transactions in respect of the shares, debt obligations or other securities
- No annual reporting or auditing is required for IBC
- There is no foreign exchange control
- Competitive incorporation fees and license fees
- Absolute confidentiality, the Memorandum and Articles of Association are the only documents to be held on the public record
- No visas required for any national and assures high standard of living
Limitations of Seychelles IBC
A Seychelles IBC shall not
- Do business with residents of the Seychelles
- Own interest in real property in the Seychelles
- Carry on business in banking or trust and insurance or re-insurance business, except if the appropriate license is granted
- Provide company management or registered offices services
- Be eligible for benefits of Double Taxation Agreements